Abstract
Purpose: Climate-related financial disclosures (CRDs) have transitioned from voluntary reporting initiatives to growing mandatory disclosures under the International Sustainability Standards Board’s IFRS S1/S2. Despite a rapidly growing empirical literature, findings remain fragmented, theoretically concentrated, and often inconsistent in outcomes. Methodology: This study conducts a theory-driven integrative review of empirical CRD studies published between 2010 and 2025. Drawing on legitimacy, stakeholder, agency, institutional, signalling and dynamic capabilities theories, the review synthesises evidence on the determinants, quality and consequences of climate-related disclosures across developed and emerging markets. Findings: The findings reveal increasing disclosure levels but persistent challenges regarding disclosure quality, emission outcomes, and decision usefulness. Implication: Therefore, IFRS S1/S2 provides a structural break in CRD research, shifting emphasis toward financially material, decision-usefulness climate disclosures. Originality: This study proposes an integrated multi-theoretical framework and outlines a forward-looking research agenda with implications for scholars, regulators, firms, shareholders and investors.